Holcim shareholders back cap hike, paving way Lafarge merger

Fri May 8, 2015/Reuters

Holcim (HOLN.VX) investors backed a capital increase in a vote on Friday, paving the way for the Swiss cement maker’s planned $40 billion merger with France’s Lafarge (LAFP.PA).

More than 93 percent of those present at the extraordinary general meeting voted to approve a capital increase to fund the Lafarge tie-up, clear of the required two-thirds majority.

Securing shareholder backing was one of the last major hurdles for the merger, which was first announced in April last year and had come close to collapse